Saban

Morgan Stanley, the second-largest U.S. securities firm, and Los Angeles billionaire Haim Saban settled a dispute over fees related to the $5.2-billion sale of Fox Family cable television network to Walt Disney Co. Terms of the settlement were not disclosed. Morgan Stanley claimed in a 2002 suit that Saban owed it $12 million in fees. Saban hired Morgan Stanley in October 2000 to advise him in the sale of his 49.5% stake in News Corp.'s Fox Family cable television network.

Morgan Stanley & Co. is suing children's entertainment magnate Haim Saban for nearly $12 million that the investment banking firm says it is owed for advice given in last year's sale of Fox Family Worldwide to Walt Disney Co. The Los Angeles County Superior Court suit alleges breach of contract, failure to act in good faith and failure to pay for services rendered. The suit, filed by attorney Patricia L. Glaser, seeks payment of fees and unspecified damages. The dispute apparently centers on whether Saban, when he hired Morgan Stanley to advise and assist in the sale of his 49.5% equity interest in Fox Family, agreed to pay the firm if any sale went through--or only if he exercised an option to sell his stake to Fox. In a statement issued in New York, Saban accused Morgan Stanley of "overreaching," adding that the firm was involved in "a different transaction."

U.S. investor Haim Saban, who is buying control of Germany's biggest television broadcaster, asked German regulators for exemption from the obligation of making an offer for ProSiebenSat1 Media's remaining shares. Saban wants to pay $457 million to $571.2 million less for the broadcaster by avoiding an offer to the remaining shareholders, arguing that the firm is in reorganization, the Financial Times reported.

Nick Saban, defensive coordinator of the Cleveland Browns, was announced as Michigan State's new football coach Saturday, replacing George Perles, who was fired three weeks ago. The appointment still needs the approval of the Board of Trustees at its meeting Friday, but that will be a formality said university President Peter McPherson. Saban, 43, was secondary coach and defensive coordinator for Perles from 1983-87.

Peru State College's football team has tasted what new head coach Lou Saban calls the sweet wine of success, and he's ready to add a touch of his vintage leadership on the field. It's the first time he's taken over a winning program, Saban says. He does so today. "I don't think you understand, or can feel the way I feel -- the joy at being able to take over a team that's done so well," Saban said. "All my life I've spent rebuilding teams."

Media billionaire Haim Saban has edged ahead in the bidding for insolvent German television group KirchMedia as the yearlong auction nears an end, sources close to the deal said. Rival bidder Heinrich Bauer Verlag will have to improve its offer in last-minute negotiations if it is to regain the lead in bidding for the assets, which include Germany's largest TV broadcaster and a vast library of film rights, the sources said.

Los Angeles billionaire Haim Saban tried to shield $1.5 billion from taxes by using an offshore tax haven, according to a U.S. Senate panel report Monday. Saban paid for a transaction that created artificial losses, which he claimed offset his profit from selling his interest in the Fox Family Worldwide Inc. network in 2001, according to the 370-page report by the Senate Permanent Subcommittee on Investigations.

The Miami Dolphins offered their coaching job to Louisiana State's Nick Saban, the favorite for the position since Dave Wannstedt resigned last month. LSU Athletic Director Skip Bertman said Saban told him of the offer late Wednesday afternoon but did not divulge details of the deal or indicate if he planned to accept. A Dolphin source, speaking on condition of anonymity, confirmed that Saban's agent, Jimmy Sexton, and team owner Wayne Huizenga met Wednesday.

Nick Saban left bowl-bound Michigan State on Tuesday for Louisiana State, a job that will nearly double his salary and make him one of the country's top-paid coaches. He signed a five-year contract for about $1.2 million annually, joining a select group of millionaire coaches that includes Bobby Bowden of Florida State, Steve Spurrier of Florida and Phillip Fulmer of Tennessee.